Loan recovery agent harrasment

Dear Sir,
File a Written Complaint

Write to MobiKwik’s grievance redressal officer (details available on their website).

State that recovery agents are violating RBI norms by harassing and disclosing details to relatives.

Escalate to RBI Ombudsman

If not resolved within 30 days, you can file a complaint under the RBI Integrated Ombudsman Scheme, 2021 (online portal).

RBI takes such harassment complaints seriously.

Dear Client,
Borrower is personally held liable for repayment of the debt and legally, there is no escape route to get rid of that liability. Lender can take legal action for recovery of the loan from the borrower apart from engagement of recovery agents. Even if you failed to repay a single EMI that attracts penal interest which may potentially hike your outstanding until it is repaid. As per the RBI Guidelines, Banks/NBFC/FI are advised to ensure that the contracts with the recovery agents do not induce the adoption of uncivilized, unlawful, and questionable behavior or recovery process. Banks/NBFCs are strictly advised to adhere to the guidelines/code during the loan recovery process. In the given situation, filing a complaint against the recovery agents of the concerned Bank/NBCs at the local Police Station, a copy of the said complaint should be sent to the concerned Bank/NBFCs. Further, a complaint against the loan recovery agents appointed by the Bank/NBFCs can be made to the regulatory authority RBI, online at https://cms.rbi.org.in. Further, a quick counseling session with a certified credit counselor can help you discover your options and choose the right path to resolve or settle the matter with the lenders.